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Financings

Rogers Sugar Announces a $50 Million Convertible Debenture Offering

By The Northwire Desk — AI Analysis Jan 05, 2026 · 16:41 RSI · 5.97 ROGERS SUGAR INC.
RSI · Price

Executive Summary

  • Rogers Sugar Inc. announced a $50 million public offering of Ninth Series convertible unsecured subordinated debentures, priced at $1,000 each with a 5.50% annual coupon.
  • An over‑allotment option could increase gross proceeds to $57.5 million if exercised in full.
  • Net proceeds will be used to reduce borrowings under Lantic Inc.’s credit facility and for general corporate purposes; the offering is expected to close around January 12, 2026.

Key Details

  • Offering Size: $50,000,000 aggregate principal amount of debentures.
  • Price per Debenture: $1,000 (offering price).
  • Interest Rate: 5.50% per annum, payable semi‑annually on the last day of January and July beginning July 31, 2026.
  • Maturity Date: January 31, 2033.
  • Conversion Price: $7.91 per share; convertible at holder’s option any time prior to 5:00 p.m. Montreal time on the earlier of the business day before maturity or redemption date.
  • Redemption Terms:
  • Not redeemable before January 31, 2029.
  • Redeemable Jan 31, 2029 – Jan 31, 2031 at principal + accrued interest if TSX weighted‑average price ≥125% of conversion price for the prior 20 trading days.
  • Redeemable Jan 31, 2031 – maturity at principal + accrued interest at company’s option.
  • Underwriters: BMO Capital Markets and National Bank Capital Markets (bought‑deal basis).
  • Over‑Allotment Option: Up to an additional $7.5 million (15% of the offering) exercisable within 30 days after closing; total gross proceeds could reach $57.5 million.
  • Use of Proceeds: Reduce amounts outstanding under Lantic Inc.’s credit facility and for general corporate purposes.
  • Expected Closing: On or about January 12, 2026, subject to regulatory and TSX approvals.
  • Prospectus Documentation: Offered pursuant to a prospectus supplement to the final short‑form base shelf prospectus dated December 5, 2025; supplement to be filed by Jan 7, 2026 and accessible on SEDAR+ within two business days.

Notable Quotes

(No executive quotes were included in the release.)

Read the original news release →

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Financings